My favorite travelling watch does not have an alarm but is a wonderful value as a Swiss automatic watch. It is the Oris Worldtimer. It has a really useful two time zone display in which pushers on the side move the hour hand only of the main display forward or backward one hour per push. The date is plugged into the main display as well. Fly from New York to London and push the forward button 5 hours and it is set to London time, if it takes it past midnight the date clicks. The home time zone time is kept on a smaller dial with a day night indicator. Ive had mine for 6 years, with one cleaning and adjusting and it will still run to within a few seconds a day.

At the end of last year I looked at some high end dual timezone watches including the Jaeger Le Coultre Reverso Duo as well as their Master Hometime and Master Geographic. After playing with them a bit I decided while they were beautiful watches, they didnt have the functionality of the Oris. I ended up getting a another model Jaeger but not for travelling, I still use the Oris for that.

Other watches you might look at are the Breitling Aerospace and B1. The Breitlings and the Oris are over $500 although you might be able to get the Oris for $500 used.

Another one to really take a look at in my opinion is the Citizen Calibre 8700 line. It has a second time zone function and a nice alarm. Looks like a dress watch and can be had for about $250 new from an authorized dealer on the internet. I got one a few weeks ago and like it quite a bit. Solar powered, dead accurate quartz movement with a real dressy look. Also a perpetual calendar which is nice.

Or there is the very top of the line. When I was shopping around the Jaegers I went into one place that only had used watches. I mentioned that I travel a lot and the manager said, oh, I have just the thing. I was at the time, looking at the Rolexes and other cheap ( ) watches in the wall displays. She went to a floor display and as soon as I saw what she pulled out I gasped; that was where they keep the expensive watches. I realized immediately what it was even as she told me, a Patek Philippe World Time, in platinum no less. Only $30,000 used. After holding it I told her it was too heavy Also A. Lange and Sohne has just released a dual time version of the Lange 1. Yours for $25,000 new. Neither the Patek nor Lange have an alarm, however. The Lange isnt even self winding, you have to hand wind it, like the Jaeger Reverso Duo.